Risk management

Entrepeneurship means taking risks. People endeavour with the aim to make a profit out of it. You take chances when setting up a new business, trying to establish a market that wasn't there before or competing in an existing market with the idea of gaining a significant market share among the competition.

Owning a business through shares or governing a business means you also take on a risk, indirectly, that is managed by other people; the management of the business.

Actual risk management helps to make sure the risks are mitigated sufficiently. It ensures that the possibility to attain the business goals is maximized and it prevents as much as possible being blindsided by events outside your control that influence the possibility to attain the business goals.

Risk management is therefor a direct influence on the primary business goals. In small organisation, the communication lines are short and risk is quickly addressed even ad hoc and unguided. But in larger organisations, a proper risk management solution is needed to significantly lower losses and results from problems. Some examples;

In a production organisation, an operational risk is an event that hinders production and the ability to meet deadlines, for instance an epidemic that incapacitates the workforce.
In a bank, a financial risk is an event that impacts the bookkeeping, creating discrepancies between what is truly in the vaults and what's there, for example a fraudulent action skimming money from the bank by an employee.
In a publicly traded company, a reporting risk is an event that creates a discrepancy between what happened and what is reported, for instance reporting delivering only to approved customers while secretly delivering to known terrorist financiers.

Implementing such a solution can be a long process, with many steps, each of which cannot be overlooked or with serious consequences later on. I can help with this process, preventing many pitfalls and making sure the end results are attained within an acceptable budget. I can also help with speedy implementations when the circumstances dictate that haste is key, while still maintaining a view on the risks of the process itself.